Page 62 - MU VOL4 #3

ANA HOLDINGS PURCHASES

STAKE IN PAL HOLDINGS

MANILA AND TOKYO – ANA HOLDINGS INC. (ANA HD), parent of
All Nippon Airways (ANA), Japan’s largest and 5-star airline for six consecutive
years, will invest $95 million US dollars in PAL Holdings Inc. (PAL Holdings)
and acquire 9.5% of PAL Holding’s outstanding shares. PAL Holdings is the
parent of Philippine Airlines Inc. (PAL).

ANA HD will acquire the shares from Trustmark Holdings Corporation, which
is owned by the Lucio Tan family and is the largest shareholder of PAL Holdings.

60 manilaupmagazine.com